BlockBeats reported on Sept. 2 that Garrett Jin, described as the representative of the "BTC OG insider whale," said traders should not short Bitcoin during its consolidation phase. The comment adds to his earlier public view on market structure. On Aug. 25, Garrett Jin said a longer consolidation period was only just beginning and that BTC needed sufficient turnover within the current price range before it could have a chance to move higher. The latest remark does not include a new price target or timeframe, but it reinforces the stance he had already shared days earlier. The update centers on his warning against short positions while Bitcoin remains in a range-bound market.
According to BlockBeats, Garrett Jin, the representative of the "BTC OG insider whale," said on Sept. 2 that traders should not short BTC during its consolidation phase.
In an earlier statement reported on Aug. 25, Garrett Jin said a prolonged consolidation had only just begun and that BTC needed sufficient turnover within the current price range before it could have a chance to move higher.
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